Closed Home Sales Increased in July

Home sales reported by the Southern Indiana Realtors Association (SIRA) showed an increase of 31% in July or 2011 as compared to July 2010.  The Indiana Association of Realtor's (IAR) reported a similiar increase for the entire state with a 24% increase in sold listings.
The IAR also reported an increase in median sale price and pending sales while the Southern Indiana Realtors Association indicated a decrease in median sale price of 3.2% for those July sales compared to last year.
The numbers tend to indicate an increase in consumer confidence which when coupled with historic low interest rates, could spark an upward trend for real estate as we head into the fourth quarter.